Hanover, Kansas Property Taxes
The median property tax rate in Hanover, Kansas is 1.30%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Hanover, the typical annual property tax bill reaches $2,921, exceeding the national median of $2,690. Property taxes in Hanover are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hanover's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hanover or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanover, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,729
$2,533
Ownwell’s Hanover Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hanover with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Hanover to provide an estimate of your property tax bill. This useful tool offers clarity on potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Hanover, Kansas
Property taxes in Hanover, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanover is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hanover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanover estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hanover's effective property tax rate to other areas in Kansas and the national median. For comparison, Hanover's median property tax rate of 1.30% is consistent across the zip code 66945. Understanding how these figures compare with other regions provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanover Tax Rate
1.30%
Average Marshall County Tax Rate
1.65%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanover, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66945 | 1.12% | 1.18% | 1.30% | 1.41% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Kansas
In Hanover, Kansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Marshall County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hanover, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hanover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 66945, with a tax bill of $2,921.
Average Hanover Assessed Value
$209,940
Average Marshall County Assessed Value
$92,000
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanover, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66945 | $137,836 | $164,875 | $209,940 | $255,005 | $282,044 |
Source: Ownwell
Property Tax Bills Across Hanover, Kansas
In Hanover, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Hanover, the median home price is $209,940. The property tax rate in Hanover is higher than the national median of 0.99%. Factors that influence the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. For example, homeowners in Hanover may see tax bills ranging from $2,103 at the 25th percentile to $4,228 at the 90th percentile. This variability can significantly impact homeowners, affecting their monthly budgets and long-term financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly, ensuring they are not caught off guard by unexpected expenses.
Average Hanover Tax Bill
$2,921
Average Marshall County Tax Bill
$1,429
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanover, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66945 | $1,613 | $2,103 | $2,921 | $3,738 | $4,228 |
Source: Ownwell